Answers to the biggest questions after Steph Curry’s $62.2 million extension with Warriors | News, scores, highlights, stats & rumors

With commitments to Draymond Green, Wiggins and Curry, the Warriors don’t project as one of the few teams under a $154.6 million salary cap. However, the franchise hasn’t invested much in its roster at this point.

Before November, the team will pick up Brandin Podziemski’s $3.7 million third-year rookie scale option for 2025-26. Trayce Jackson-Davis has a non-guaranteed $2.2 million, but that’s a steal for an emerging rotation player and potential starter. Santos has a similar $2.2 million (team option), and while he could earn another year, the figure is manageable.

The bigger variables surround Kuminga (No. 7 in 2021) and Moody (No. 14), who are eligible for extensions through the start of this season. If they don’t re-sign, they’ll become restricted free agents next July. The Warriors have the right of first refusal on any offer.

Looney, Gary Payton, Melton and Waters are among the unrestricted free agents in 2025—Looney and Payton are eligible for extensions. The two-way players (Reece Beekman, Daeqwon Plowden and Pat Spencer) could also be restricted. The team has its own first-round pick, which would be $4.7 million if the Warriors land the No. 14 pick as they did in June—if they improve in the rankings, that number drops to just $2.7 million for the No. 30 pick.

When budgeting for Kuminga, Moody and other acquisitions, the Warriors should keep an eye on a few projected lines: the luxury tax threshold ($187.9 million), first apron ($195.9 million) and second apron ($207.8 million). For example, if Kuminga and Moody re-sign to make a combined $35 million for 2025-26, the Warriors would have 11 players (including Jackson-Davis and Santos) and $8-10 million to spend on 3-4 more players.

If the team decides to retire at the first apron, the budget would be approximately $16-18 million for the remainder of the roster, including all re-signed players and/or the non-taxpayer mid-level exception ($14.1 million). The second-apron budget would provide approximately $28-30 million in flexibility to retain free agents and/or the taxpayer mid-level ($5.7 million).

Choosing to pay Kuminga or Moody (or doing smaller deals) changes the Warriors’ flexibility, but the largest expense item remains the non-taxpaying middle market.